Memorandum Findings of Fact and Opinion
FAY, Judge:
Respondent determined a deficiency in petitioners' income tax for the year 1961 in the amount of $359.99.
The issue before this Court is whether petitioners are entitled to deduct $1,200 as a bad debt under the provisions of section 166 of the Internal Revenue Code of 1954.
Findings of Fact
Some of the facts were stipulated at the trial. The stipulated facts and all exhibits identified...
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